Saving for Retirement

Saving for Retirement: How Do You Stack Up?

Ever wonder how you are doing planning for retirement? Kiplinger’s set out to find out for you.

A new poll conducted by Kiplinger and Personal Capital reveals Americans are serious about preparing for retirement. See how your savings — and confidence level — measure up.

Americans are generally upbeat about their progress toward saving for retirement, as well as their prospects for a comfortable retirement. Most are stashing a respectable chunk of their income in savings and getting financial advice. But health costs both before and after retirement are a concern.

Those are some of the conclusions from a new poll conducted by Kiplinger’s Personal Finance, in partnership with the financial firm Personal Capital. We surveyed a national sampling of investors between the ages of 35 and 64, equally divided between men and women, who had made at least one investment transaction in the past year. The poll was conducted in November 2018.

Income and assets for the respondents track national averages for U.S. retirement savers. The median household income is $93,760, and the median household net worth (excluding primary residence) is $420,860. The market value of their primary residence is $297,040. About half say they will collect a pension in retirement. (Note: Figures are medians unless otherwise indicated.) See how your efforts to save for retirement compare:

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**The owner(s) retain title to the property that is the subject of the reverse mortgage until the person sells or transfers the property and is therefore responsible for paying property taxes, insurance, maintenance and related taxes. Failing to pay these amounts or failure to maintain the condition of your property may cause the reverse mortgage to become due immediately. A reverse mortgage is a complex loan secured by your home. Whether such mortgage makes sense for you depends on your financial situation and needs. For these reasons, you are required to consult with a qualified independent housing counselor and include family members and other trusted advisers before making this decision. This information is not from HUD or FHA and was not approved by HUD or any government agency.